Spring is busy and inventory dropped

Last updated 8/27/2015 at 11:37am

Spring is busy for everyone in the valley and as expected housing inventory has dropped from 101 homes on March 1 to ninety-one single family homes on April 1.

There are 158 lots for sale, down from 161 last month. Commercial property and multifamily home listings are down from thirteen to eleven. In the case of single family homes, the average listed price is $355,274 down slightly from last months $335,887.

We have seen the average days on the market increase from 137 to 160. This increase is mostly due to the fact that we had a large number of homes listed in January and February dramatically reducing the average number of days on the market.

Of the ninety-one homes on the market today, we have a couple of interesting ones. Listed at $3,874,000 is 2789 Stinson Rd. This 4,768-square-feet home includes 1,400 acres and an airplane hangar and pilots quarters. Built over a huge underground garage, the home has five bedrooms and five and a half bathrooms, pool, observation deck and amazing privacy. The (2538 Borrego Valley Rd. - Listed for $445,000) homeowners are also including a two-year membership to Rams Hill Country Club.

If you want to live and work in the same place, the home at the corner of Palm Canyon Drive and (2789 Stinson Rd. - Listed for $3,874,000) Borrego Valley Road could be the place for you. The 984-square-feet, one bedroom, one bath home sits on 4.39 acres.

Because the land is zoned for both commercial and residential use, it is perfectly suited for a plant nursery or other retail business. Built in 1962, the southwestern style bungalow has been beautifully renovated.

Twenty-one homes are under contract ranging in price from $23,900 for a one bedroom Club Circle condo to $395,000 for a home in Rams Hill. The average listed price for homes under contract is $166,119 or $117.57 per square foot, down $18,831 and up $3.47 per square foot. Basically this says that lower priced homes are being put under contract at a higher price per square foot from last month.

Currently under contract we have three condos in Club Circle E, one home in de Anza Manor, one home in Deep Well, two homes in Ocotillo Heights, three homes that are not in a subdivision, four homes in Rams Hill, one home in Unit B, one in Unit E, one in Unit F, one in Unit G and one in Unit K.

3005 Borrego Springs Rd - Sold for $210,000. Nine homes sold in March ranging in price from $29,000 for a trailer in Santiago Estates to $385,000 for a home in de Anza Country Club. Year to date, we have sold twenty-seven homes. Valley wide, the average sales price is $209,811 or $117.29 per square foot. This is up from last month $31,359 or $17.12. Looking at sales by neighborhood, de Anza Country Club sold for an average price of $336,250 or $176.42 per square foot, $142.33 in Deep Well, $111.49 in Rams Hill, $18.71 in Santiago Estates, $76.53 in Sun Gold, $75.68 in Unit F, $121.12 in Unit K, and $142.66 for a home not in a specific neighborhood.

On the fence about buying a home? Prices are still low as are interest rates. In many cases your mortgage will be less than what you are paying for rent. Call your favorite Real Estate agent today to see what your dollar can buy.